[Archived] Blackburn Rovers Auditors Resign

[roverandout]

Kamy had tweeted they have resigned, reason unknown yet, anyone know what it could mean?

[perthblue02]

Discussion in the Company accounts thread regarding the above

[roverandout]

OK better delete it then lol

[bob fleming]

Doesn't sound good to me having read Kamys tweets.

I'm sure Mercerman will be along shortly with his four other mates on horseback to predict, yet again, the apocalypse.

[perthblue02]

OK better delete it then lol

Sorry didn't mean it like that , just meant if anybody views this thread more info in the other

[Tom]

This does sound ominous it has to be said

[bob fleming]

Sorry didn't mean it like that , just meant if anybody views this thread more info in the other

Yep, just read that thread, missed it earlier. Good old Merce in fine form.

[Kamy100]

No idea what this means but here is a link to their resignation: https://beta.companieshouse.gov.uk/company/00053482/filing-history

Hopefully Philip or one of the other accountants can provide some insight as to why an auditor would resign 15 days after the Rovers accounting year ended.

[scotchrover]

No idea what this means but here is a link to their resignation: https://beta.companieshouse.gov.uk/company/00053482/filing-history

Hopefully Philip or one of the other accountants can provide some insight as to why an auditor would resign 15 days after the Rovers accounting year ended.

I might be wrong but it sounds like Venkys wanted the auditing company to ignore some financial areas of the business. Ultimately, it sounds like the club's trying to fiddle the finances, maybe to avoid the loss being worse. Maybe there's still money going out to people like Kean etc?

Then again, I could be wrong! I only did GCSE and A-level Business....

[blueboy3333]

I might be wrong but it sounds like Venkys wanted the auditing company to ignore some financial areas of the business. Ultimately, it sounds like the club's trying to fiddle the finances, maybe to avoid the loss being worse. Maybe there's still money going out to people like Kean etc?

Then again, I could be wrong! I only did GCSE and A-level Business....

you're over-qualified then, although you could still get a job at a big poultry company in India.

[West Yorks Rover]

We must be really bent, if that bent lot won't work for us.

[matt83]

It's a death by a 1000 cuts supporting rovers post venkys. 5 years of nothing but bad and odd news other than the one glimmer of hope when kean left. I may employ the head in the sand fingers in ears tactic of some fans and pretend all is well. Sure I'll be happier in denial than the reality which is grim.

[scotchrover]

you're over-qualified then, although you could still get a job at a big poultry company in India.

I hear it's a firm that's really going places with its international reputation...

[Stuart]

It's a death by a 1000 cuts supporting rovers post venkys. 5 years of nothing but bad and odd news other than the one glimmer of hope when kean left. I may employ the head in the sand fingers in ears tactic of some fans and pretend all is well. Sure I'll be happier in denial than the reality which is grim.

Ironically that would mean taking the blue pill.

[Gav]

Ucking Shysters, the lot of them, Shaw cannot believe his luck getting paid more than the PM to run an operation that's doing nothing for the good of the town or the football club.

Time to get angry, time to get rid of these inept chicken farmers from under a rock in Pune.

Rovers fans it's over to you, do you care enough?

[Mercer]

When an auditor resigns they must explain this in a notice to the Companies Registration Office - this notice should advise if there are any circumstances related to their resignation which need to be brought to the attention of the company’s members or creditors. This notice is made public.

Where the auditors’ notice specifies there are no such circumstances, they must issue a statement of the reasons for their resignation.

So either way, we should know something within a few days.

Their resignation has come just a few days following the filing of accounts for VLL (holding company) for year ended 31 March 2015. Rovers' (subsidiary company) year end is 30 June 2015 and therefore the timing of their resignation is very surprising unless Ewood has suddenly become a model of efficiency and year end accounts have been produced, audited, finalised and signed-off all within 10 working days !

At its worst, when an auditor resigns, we could be looking at a loss of trust in the client, or the inducement by the client to action illegal/fraudulent acts - clearly, both can cover a very wide area.

[Roverall]

I think the Blackburn public have already answered that question, unfortunately.

[1arC]

Hopefully we are going to get some property investigation going on. Plenty of people have suggested that the figures just don't add up. Perhaps we are about to find out, we have fingers in pies. Who are the Auditors by the way, is it KPMG?

[Roverall]

Could this be the moment the s*** really hits the fan and we find out what exactly is going on?

[Kamy100]

Philip's take on situation:

That is unusually blunt and immediate.

The auditors usually continue even if a company is going bust. A resignation like this means one or a combination of the following, but with the first most likely:

- there has been a request by BRFC which the auditors cannot comply with. This could be a comfort letter requested by a bank or a request not to qualify accounts in the absence of confirmed support from Pune.

- KPMG might have grown so frustrated with the management at Ewood that they consider the personnel to be a material risk to the business, have made recommendations and had them rejected.

- KPMG are auditors to FIFA and all the SEM Group mess. There might have been a decision at KPMG group level to exit as many messy football accounts linked to that lot as they possibly can. The appointment of KPMG was undoubtedly as part of the total SEM package.

Depends on how swift and smart BRFC are about handling this but the manner and style of KPMG's exit is terrifying.

[Mike Graham]

Ucking Shysters, the lot of them, Shaw cannot believe his luck getting paid more than the PM to run an operation that's doing nothing for the good of the town or the football club.

Time to get angry, time to get rid of these inept chicken farmers from under a rock in Pune.

Rovers fans it's over to you, do you care enough?

Gav, do they care enough?

No, Rovers fans do not.

Most Rovers fans will have their faces rubbed in poo, castration with a blunt knife, and their penis or clitoris removed with a pair of false teeth and still back the Venkys as the only option.

GET REAL AND REMONSTRATE !!

[patrickvalery]

Unfortunately I'm on the on the thick side of dim and really don't understand this stuff whatsoever. Am I understanding this right. Their purpose is to ensure the business adheres to legal procedures etc.. But they can't police it or demand the company do things the right and proper way? So the thinking is they've found something untoward, told the powers that be that's it's not right but we've chosen to ignore it? Would I be right in thinking this kind of action doesn't happen immediately? They'd have issued multiple warnings and this is the last resort?

Appreciate if someone could put it in simple (I mean child like) terms for me.

Cheers.

[Mike E]

Unfortunately I'm on the on the thick side of dim and really don't understand this stuff whatsoever. Am I understanding this right. Their purpose is to ensure the business adheres to legal procedures etc.. But they can't police it or demand the company do things the right and proper way? So the thinking is they've found something untoward, told the powers that be that's it's not right but we've chosen to ignore it? Would I be right in thinking this kind of action doesn't happen immediately? They'd have issued multiple warnings and this is the last resort?

Appreciate if someone could put it in simple (I mean child like) terms for me.

Cheers.

Baboo gi gaga bi baaaoo

*poop*

[Stuart]

On the face of it, PV, I'd say having your auditors resign is not a good sign.

There seem to be a lot of warning signs all the time but yet nothing ever happens. It's like a car crashing in super slow motion and just when it's about to impact, the sequence starts again from a different angle.

[ABBEY]

Baboo gi gaga bi baaaoo

*poop*

Myers will @#/? it now has that's better communication than Myers does